Updated Duplex with Two-Car
New
For Sale
$489,900
4170 N Bartlett Ave, Shorewood, WI 53211
Two residential units feature full baths, a side-drive garage, and recent exterior improvements.
Property Size2,424 SF
Price / SF$202.10
Days on Market6
Property Features for 4170 N Bartlett Ave
General Information
Standard status
Active
Size
2,424 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
1950
Buildings
1
Construction
brick
Listing Agency:
Shorewest Realtors, Inc.
Listed By:
Avenue Real Estate
(920) 893-3001
Source:
Avenueret
Added: Sep 22
Changed: Sep 26
Last Checked: Sep 26 at 6:49AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Shorewest Realtors, Inc.
Investment Insights
Based on property information with market context.
This duplex at 4170 N Bartlett Ave in Shorewood presents two residential units, each with 3 bedrooms and 2 full baths. The brick building has aluminum trim, a 2-car garage, and a side-drive layout. Both furnace and AC units are 8 years old, while the roof was installed in August of 2023. Additional improvements include a new upper rear porch and a new backyard fence.
The property is tenant-occupied, with the lower tenant handling mowing and snow blowing. Built in 1950, the building combines a two-unit configuration with updated exterior elements and established residential use.
The property is tenant-occupied, with the lower tenant handling mowing and snow blowing. Built in 1950, the building combines a two-unit configuration with updated exterior elements and established residential use.
Key Highlights
- Two‑unit duplex with 3 bedrooms and 2 full baths in each unit
- 2‑car garage with side drive
- Roof installed in August of 2023
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$25,976
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$519,520
$519.5K
Cap Rate 7%
$371,086
$371.1K
Cap Rate 9%
$288,622
$288.6K
Market Conditions
NOI Build-Up for 2,424 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$39.3K $16.20/SF
− Vacancy
−$2.2K −$0.89/SF
EGI
$37.1K $15.31/SF
− OpEx
−$11.1K −$4.59/SF
NOI
$26.0K $10.72/SF
Area
Milwaukee County, WI
Vacancy
5.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$519,520
Cap Rate 7%
$371,086
Cap Rate 9%
$288,622
Alternative Uses
Best Use
Multifamily LT 5
$371.1K
$324.7K – $432.9K
NOI $25,976 @ 7.0% cap · market cap 5.30%
Second Best
Apartment 5plus
$331.5K
$290.1K – $386.8K
NOI $23,205 @ 7.0% cap · market cap 4.74%
Theoretical Best
Office A
$574.8K
$503.0K – $670.6K
NOI $40,237 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
981
Businesses Nearby
Explore this area
Business Placement
Demographics for 53211, WI
36,327
Population
16,346
Households
2.2
Avg Household Size
29
Median Age
74%
College-Educated
98%
High-School Grad
4.0 sq mi
ZIP Area
9,082
Density / Sq Mi
$76,206
Median Household Income
$40,214
Median Earnings
$1,225
Median Rent
$413,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units feature full baths, a side-drive garage, and recent exterior improvements.
Where is this duplex located?
The property is located at 4170 N Bartlett Ave Shorewood, WI.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms and 2 full baths in each unit; 2‑car garage with side drive; Roof installed in August of 2023
